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After months of negotiations between the federal government and labor unions on the appropriate minimum wage for workers in the country, a consensus was finally reached to set it at seventy thousand naira, which the President has already signed the bill into law.
However, the question now is whether all employers, especially private companies and small businesses, can afford to pay seventy thousand naira as the minimum wage.
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What can seventy thousand naira really do in today’s economy, where inflation and rising prices are a constant challenge?
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